Madison Covered Call & Equity Strtgy Fd (NYSE:MCN) Stock Passes Below Fifty Day Moving Average of $6.37

Madison Covered Call & Equity Strtgy Fd (NYSE:MCN) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $6.37 and traded as low as $6.17. Madison Covered Call & Equity Strtgy Fd shares last traded at $6.21, with a volume of 1,000 shares.

The company’s 50 day simple moving average is $6.37 and its 200-day simple moving average is $6.55.

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 11.67%. The ex-dividend date of this dividend was Tuesday, September 17th.

A number of hedge funds and other institutional investors have recently bought and sold shares of MCN. M&T Bank Corp increased its holdings in shares of Madison Covered Call & Equity Strtgy Fd by 17.3% in the 2nd quarter. M&T Bank Corp now owns 30,473 shares of the investment management company’s stock worth $201,000 after buying an additional 4,484 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Madison Covered Call & Equity Strtgy Fd by 12.6% in the 2nd quarter. LPL Financial LLC now owns 75,735 shares of the investment management company’s stock worth $501,000 after buying an additional 8,484 shares during the last quarter. Walleye Trading Advisors LLC bought a new position in shares of Madison Covered Call & Equity Strtgy Fd in the 2nd quarter worth $75,000. Landscape Capital Management L.L.C. bought a new position in shares of Madison Covered Call & Equity Strtgy Fd in the 2nd quarter worth $83,000. Finally, Advisor Group Inc. increased its holdings in shares of Madison Covered Call & Equity Strtgy Fd by 4.2% in the 2nd quarter. Advisor Group Inc. now owns 403,146 shares of the investment management company’s stock worth $2,664,000 after buying an additional 16,177 shares during the last quarter.

Madison Covered Call & Equity Strtgy Fd Company Profile (NYSE:MCN)

Madison Covered Call & Equity Strategy Fund is a closed-ended equity mutual fund launched by Madison Investment Holdings, Inc It is managed by Madison Asset Management, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors.

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